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Japan's PM rejects resignation calls
Source: Agencies |
January 7, 2009, Wednesday
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Print Edition
JAPAN'S increasingly unpopular Prime Minister Taro Aso yesterday rejected calls for his resignation, saying he needed to steer the world's second-largest economy out of recession.
Aso's support now stands at just 20 percent amid growing public frustration over his handling of the sluggish economy, but he said the nation must be patient.
"I am confident that the ruling party and I can implement effective measures to boost the economy," said Aso, president of the ruling Liberal Democratic Party.
Opposition politician Yukio Hatoyama, meanwhile, has demanded Aso resign and call new elections.
Hatoyama, a leader of the Democratic Party of Japan, demanded Aso scrap a plan to give a cash payout to every household, calling it "a great folly." The government hopes the cash payout, worth 2 trillion yen (US$21 billion) ?? or 64,000 yen per household of four ?? will spur consumer spending.
Aso included the cash payment measure in a supplemental budget submitted to parliament on Monday.
"The measure will have no economic impact. What is more, people don't even want it in the first place," Hatoyama said. "This is nothing but a waste of public money. If we can spend 2 trillion yen, we should use that money to help the unemployed and the elderly, and support medical expenses."
But Aso said the cash - which he called "emergency assistance" - would generate much-needed spending. Aso's government is also expected to submit a record 88.5 trillion yen budget for the fiscal year from April to parliament.
Aso's support now stands at just 20 percent amid growing public frustration over his handling of the sluggish economy, but he said the nation must be patient.
"I am confident that the ruling party and I can implement effective measures to boost the economy," said Aso, president of the ruling Liberal Democratic Party.
Opposition politician Yukio Hatoyama, meanwhile, has demanded Aso resign and call new elections.
Hatoyama, a leader of the Democratic Party of Japan, demanded Aso scrap a plan to give a cash payout to every household, calling it "a great folly." The government hopes the cash payout, worth 2 trillion yen (US$21 billion) ?? or 64,000 yen per household of four ?? will spur consumer spending.
Aso included the cash payment measure in a supplemental budget submitted to parliament on Monday.
"The measure will have no economic impact. What is more, people don't even want it in the first place," Hatoyama said. "This is nothing but a waste of public money. If we can spend 2 trillion yen, we should use that money to help the unemployed and the elderly, and support medical expenses."
But Aso said the cash - which he called "emergency assistance" - would generate much-needed spending. Aso's government is also expected to submit a record 88.5 trillion yen budget for the fiscal year from April to parliament.
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